Dear Memo;
Trade for October 12th
Still Ongoing:
Trade: $LOOM
Position: Short
Entry Price: 0.25
SL: 0.35
Current situation: Loss - 45$ (unrealized)
Lesson: New tokens when launched on CEX like Binance on stealth, often develop sudden increases in volume and price, this is evident in previous token launches e,g $CYBER , $APT, and many others. Due to volatility as whales and other interest players buy tokens to trap retail traders these trades while risky can be profitable, The trick is to increase your SL and move the Entrypoint 60-70% from the 24-hour end-of-day launch price.
I have the utmost confidence in my position, my confidence is absolute, and I will not lose this trade.
As part of my trade strategy, I do not open new trades above my margin, so I will not be opening. new trades today to manage risk.
